Australia's Yellow Brick Road hits over 7-mth high on JV deal

Yellow Brick Road Holdings

13/09/2019 06:10

** Wealth management firm Yellow Brick Road Holdings Ltd
 YBR.AX  rises as much as 24.6% to A$0.086, its highest since
Feb. 6
    ** Co says it now enters definitive deal with an affiliate
of international alternative asset manager Magnetar Capital to
establish a JV which will conduct mortgage-backed securities
securitisation business  urn:newsml:reuters.com:*:nFWN2630SO
    ** Yellow Brick Road on April 11 said it entered into a term
sheet to establish a securitisation business  urn:newsml:reuters.com:*:nFWN21S11H
    ** Stock posts biggest intraday percentage gain since March
11
    ** About 1.6 mln shares change hands versus 30-day average
of about 73,000 shares
    ** Stock set to post second consecutive weekly gain
    ** Stock down 27.4% this year, as of last close
       

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rm://aditya.srivastsav.thomsonreuters.com@reuters.net))